Launch of European domestic Green Steel prices

Fastmarkets has launched two new Green Steel prices for the European domestic market, starting Thursday June 8.

Fastmarkets’ Green Steel, domestic flat-rolled differential ex works Northern Europe will be assessed weekly against the Fastmarkets’ established Northern European hot rolled coil (HRC) index.

A daily inferred Green Steel base price will be calculated based on the daily Fastmarkets HRC index and the Green Steel differential to provide real-time transparency.

The price specifications are as follows:

MB-STE-0904: Green Steel domestic, flat-rolled, differential to HRC index, exw northern Europe, € per tonne
Quality: Steel produced with scope 1,2 & 3 emissions of maximum 1 tonne CO2 per tonne of steel
Quantity: minimum 10 tonnes
Location: Ex-works northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Weekly

MB-STE-0905: Green Steel base price, HRC exw northern Europe, daily inferred, € per tonne
Quality: Steel produced with scope 1,2 & 3 emissions of maximum 1 tonne CO2 per tonne of steel
Quantity: minimum 10 tonnes
Location: Ex-works northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Daily
Notes: This price is calculated by adding the weekly Green Steel differential (MB-STE-0904) to the daily Northern Europe HRC index (MB-STE-0028).

The Green Steel prices will capture the differential between traditional flat-rolled steel prices and prices for steel produced with low emissions (including Scope 1, 2 & 3) of maximum 1 tonne CO2 per tonne of steel.

All production methods and raw materials will be considered, including scrap-based production and steel made using hydrogen-reduced iron.

To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these assessments, please contact Julia Bolotova by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Julia Bolotova re: European Green Steel.”

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.

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